China Mobile has moved to quash rumours that it is looking to acquire stakes in MTN’s mobile businesses in Iran, Syria and Sudan via a joint venture with a regional company. A China Mobile spokesperson told Bloomberg that the operator was “not aware” of any such investment plans. An earlier report by the South China Morning Post, citing unidentified sources, claimed China Mobile was eyeing a regional partnership in an effort to acquire the US$2 billion assets of MTN. According to Wireless Intelligence data, MTN had around 16 million customers in Iran by year-end 2008, plus 3.5 million in Syria and 2.6 million in Sudan. However, the spokesperson added that China Mobile – the world’s largest mobile operator in terms of subscribers – was continuing to seek suitable overseas acquisition opportunities.

China Mobile made its first and only overseas acquisition to date in 2007, buying 100 percent of Pakistan operator Paktel (now known as ‘Zong’) for US$460 million. However, China Mobile’s chairman, Wang Jianzhou, hinted at the World Economic Forum in Davos earlier this year that it could look to make further purchases this year as the value of telecom assets declines due to the global economic situation. “We are looking for new opportunities for new acquisitions,” Chairman Wang said in January.